Strategic Capital Bank censured over 'unsafe' practices
By Don Dodson
Thursday August 28, 2008
CHAMPAIGN – Federal and state regulators have ordered Champaign-based Strategic Capital Bank to stop engaging in what they call "unsafe or unsound banking practices."
On Aug. 14, the Federal Deposit Insurance Corp. and the Illinois Department of Financial and Professional Regulation issued a "cease-and-desist order" against the bank, prohibiting it from increasing total assets, demanding that it increase its capital and barring it from accepting or renewing brokered deposits.
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